by Dustin Weiner
of the Forest City Coop
Our markets look to start the day higher today – but don’t be surprised to see a choppy trade as fundamental news is lacking. Index fund rebalancing starts Wednesday (it starts the 5th business day of year, goes 5 days – we know this because SEC rules require them to publish their rebalancing schedule in their prospectus). This could lend a little support to corn as the funds have been short corn and will likely be buying some back.
The outside markets are a little friendly this morning, crude is up, the stock market up, Chinese markets are higher and the $US is steady. This cold weather could also offer a little support as it increases feed consumption (lesser conversion rates) and also causes logistical problems that could force end users to pay up for quick ship grain.
Corn steady to 2 cents higher
Soybeans 2 to 5 cents higher